Cohen & Steers REIT and Preferred Income Fund (NYSE:RNP) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.69 and traded as high as $20.75. Cohen & Steers REIT and Preferred Income Fund shares last traded at $20.6550, with a volume of 85,811 shares.

Cohen & Steers REIT and Preferred Income Fund Stock Down 0.0%

The business has a fifty day moving average price of $20.81 and a 200 day moving average price of $20.69.

Cohen & Steers REIT and Preferred Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be issued a dividend of $0.136 per share. The ex-dividend date is Tuesday, June 9th. This represents a c) dividend on an annualized basis and a yield of 7.9%.

Hedge Funds Weigh In On Cohen & Steers REIT and Preferred Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ellis Investment Partners LLC boosted its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 1.1% in the fourth quarter. Ellis Investment Partners LLC now owns 1,226,761 shares of the investment management company’s stock valued at $24,363,000 after buying an additional 13,699 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 25.7% in the third quarter. Ameriprise Financial Inc. now owns 745,094 shares of the investment management company’s stock valued at $16,751,000 after buying an additional 152,572 shares during the period. Raymond James Financial Inc. boosted its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 1.9% in the second quarter. Raymond James Financial Inc. now owns 705,164 shares of the investment management company’s stock valued at $16,057,000 after buying an additional 13,218 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 41.3% in the fourth quarter. Wells Fargo & Company MN now owns 686,030 shares of the investment management company’s stock valued at $13,625,000 after buying an additional 200,429 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 2.1% in the third quarter. Bank of America Corp DE now owns 592,485 shares of the investment management company’s stock valued at $13,319,000 after buying an additional 12,408 shares during the period.

Cohen & Steers REIT and Preferred Income Fund Company Profile

Cohen & Steers® REIT and Preferred Income Fund, Inc (NYSE: RNP) is a closed-end management investment company that seeks to provide current income and, to a lesser extent, capital appreciation. The Fund pursues its objectives by investing primarily in equity real estate investment trusts (REITs) and preferred securities issued by U.S. and non-U.S. real estate companies. It employs a research-driven, bottom-up selection process to identify securities that offer attractive income yields while seeking to manage downside risk through diversification across sectors and geographies.

In its equity portfolio, the Fund typically holds shares of publicly traded REITs spanning property types such as industrial, office, retail, residential and specialty real estate.